Shanghai’s ambitious plan to generate $6.9 billion through Web3 tourism strategy

Shanghai plans to launch around three dozen metaverse projects in the next two years, aiming to generate $6.9 billion in annual revenue by 2025. These projects will leverage web3 technology to promote tourism and cultural activities.

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The city of Shanghai has set its sights on an endeavour to invigorate its tourism sector. Embracing the transformative potential of Web3 technologies, including blockchain, metaverse, and other emerging innovations, Shanghai aims to revolutionise the tourist experience, uplift cultural heritage, and drive economic growth.

With an ambitious goal of generating $6.9 billion annually, Shanghai strategically plans to establish a comprehensive Web3 tourism ecosystem. This ambitious undertaking involves seamlessly integrating blockchain, AI, virtual reality, and other cutting-edge technologies. By doing so, Shanghai seeks to offer tourists immersive and captivating experiences, decentralised travel services, and leverage digital assets, thus propelling the city into the realm of smart tourism destinations.

Crucially, Shanghai’s initiative aligns seamlessly with China’s broader drive to embrace blockchain technology and advance its digital economy. By harnessing emerging technologies, Shanghai aims to attract tech-savvy travellers and tap into the rising demand for innovative and personalised tourism experiences.

Not content to tackle this challenge alone, Shanghai actively seeks collaboration with prominent blockchain companies, technology providers, and industry stakeholders. By fostering these partnerships, the city aims to jointly develop and implement transformative Web3 tourism projects. These initiatives encompass a wide range of endeavours, such as digitizing cultural artifacts, creating blockchain-based loyalty programs, and providing secure and transparent travel services.

Through its Web3 tourism strategy, Shanghai’s ambitions extend beyond mere economic gains. The city also envisions promoting sustainable tourism practices and safeguarding its rich cultural heritage.